BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A debt collection letter reminds a debtor that they owe you money. You can use a debt collection letter to set up a repayment plan or warn of impending legal proceedings. A debt collection letter should include the total debt owed, the initial due date, and any necessary warnings of impending legal action.

Detailed explanation-2: -The collection letter has two objectives: 1) collect overdue funds; 2) maintain a positive relationship with the customer. Most companies have their own formatted letters for handling collections, and in most cases, attorneys are instrumental in the wording of such letters.

Detailed explanation-3: -A collection demand letter, also called letter of demand, is a document that legally calls for the settling of a debt that is in default. 1.

Detailed explanation-4: -In a general word, a collection letter definition is the notification sent by a supplier or seller to his customers or buyers for reminding the payment of dues (arising from credit sales) is called a collection or dunning letter.